Voya Index Correlations

Mutual Funds . USA . 
Fund . Voya Index Solution
VSZFX Fund  USD 14.32  0.09  0.63%   
The current 90-days correlation between Voya Index Solution and Science Technology Fund is 0.69 (i.e., Poor diversification). The correlation of Voya Index is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Voya Index Correlation With Market

Poor diversification

The correlation between Voya Index Solution and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Voya Index Solution and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Voya Index Solution. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Voya Mutual Fund

  0.91IMCVX Voya Multi ManagerPairCorr
  0.8IMOPX Voya Midcap OpportunitiesPairCorr
  0.8IMORX Voya Midcap OpportunitiesPairCorr
  0.8IMOWX Voya Midcap OpportunitiesPairCorr
  0.8IMOZX Voya Midcap OpportunitiesPairCorr
  0.78IMYCX Voya High YieldPairCorr
  0.91INGIX Voya Stock IndexPairCorr
  1.0VPISX Voya Index SolutionPairCorr
  0.95VPRAX Voya T RowePairCorr
  0.99VPSSX Voya Index SolutionPairCorr
  0.83VPRSX Voya Jpmorgan SmallPairCorr
  1.0VPSAX Voya Index SolutionPairCorr
  0.81NAWCX Voya Global EquityPairCorr
  0.81NAWGX Voya Global EquityPairCorr
  0.81NAWIX Voya Global EquityPairCorr
  0.89IPARX Voya Global PerspectivesPairCorr
  0.85IPEAX Voya Large CapPairCorr
  0.84IPEIX Voya Large CapPairCorr
  0.85IPESX Voya Large CapPairCorr
  0.85IPETX Voya Large CapPairCorr
  0.79IPIMX Voya High YieldPairCorr
  0.9IPIRX Voya Global PerspectivesPairCorr

Moving against Voya Mutual Fund

  0.53ILUAX Voya Bond IndexPairCorr
  0.52ILABX Voya Bond IndexPairCorr
  0.52ILBAX Voya Bond IndexPairCorr
  0.52INGBX Voya Global BondPairCorr
  0.52IOSAX Voya Global BondPairCorr
  0.51IOSIX Voya Global BondPairCorr
  0.51IOSSX Voya Global BondPairCorr
  0.35IOGPX Vy Oppenheimer GlobalPairCorr
  0.5IPISX Voya Intermediate BondPairCorr
  0.49IPIIX Ing Intermediate BondPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Voya Mutual Fund performing well and Voya Index Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Voya Index's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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